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Mid-Day Gold & Silver Market Report – 3/25/2011

At 12PM (CT) the APMEX precious metal prices were:

  • Gold price- $1,426.20
  • Silver price - $37.06
  • Platinum price - $1,748.60
  • Palladium price - $751.00


COMMENTARY: Gold and silver prices are bouncing back and forth this morning as those who are buying gold as a safe haven drive prices up and profit takers take prices lower. Next week could bring even more volatility as the CME announced yesterday that they are raising the amount to buy or short a 5000-ounce silver contract to 5.4%.

Costs for gold mining companies have risen dramatically over the past ten years, and there is no signs this will stop anytime soon.Mining companies are experiencing stronger cash flows and good profits, but cost are rising from $600 per oz to as much as $1000 per oz in some cases. This could begin to effect capital spending and thus the overall gold supply. Miners are also being hurt by the decline in the US dollar relative to Canadian dollar, Australian dollar, Chilean peso and Mexican peso. Sales for most miners are in US dollars, so as the dollar depreciates, so does their profits.

What do George Soros and John Paulson know that we should know? These two gentleman are two of five very powerful players in the global investment markets. At the end of 2010, both of these gentleman had long positions in gold as part of their major holdings.

Gold spot price is down $9.70 – Silver price is down 40 cents – Platinum spot price is down $13.40 – Palladium price is down $2.30

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APMEX’s ‘Market Reports’ provide our readers with a review of spot price activity and some of the factors that may be affecting the market for precious metals, three times during the trading day. While the information is obtained from sources we believe to be reliable, we do not guarantee its accuracy or its completeness and we encourage you to conduct your own investigation prior to making any decision based on the information. The "News and Commentaries" are not intended as a comprehensive discussion and there may be other factors that may be affecting the financial marketplace. These "News and Commentaries" are provided for informational purposes only and do not constitute a recommendation by APMEX to hold, to purchase or to sell any precious metal product. All orders, all purchases and all sales, if any, are subject to the terms of the User Agreement and other applicable policies.

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